With Spain expected to announce a further fall in gross domestic product (GDP) today (October 30th), those analysing the country's property market will be waiting anxiously to see how this will impact upon the sector.

The poor performance of Spain's economy over the last year has already caused property prices to go into free fall, with the Global Property Guide reporting that in June 2012, Tinsa's IMIE general house price index plummeted by 30.4 per cent from 2007 peak levels.

A fall of 0.4 per cent for third quarter GDP is anticipated to be revealed by the National Statistics Institute today and property prices could slide yet further.

For those looking to invest in real estate in Spain this could be a golden opportunity to obtain a property cheaply.

With tourism continuing to flourish in the country despite the economic downturn, putting money into property while prices are low could be a good option for many budding investors.

source: http://www.propertyshowrooms.com/spain/property/news/will-fall-spanish-gdp-bring-property-price-drop_312469.html

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